Exexutor Not Sharing Information

[Impster]

State of Florida

My Aunt is the executor of my Grandparents Estate. I am in the will as an Issue of my deceased mother.

My Quesitons are...
Is my Aunt required to notify other people in the will of what the estate consist of? I am aware of what is there because I have aided my Grandfather with his daily activities (Shopping, Banking and Bills) for the last five years but another relative from out of state has no idea what is available. My Aunt, who is executor, moved some CD's and Bank accounts into her name with a Power of Attorney she got days before my grandfather passed. She considers those her assets and is refusing to inform anyone of their status. Is there any recourse on this?

also

If an attorney is handleing the estate and probate does my Aunt get the exeutors percent of the estate?

Thanks


[Edited by Impster on 06-05-2001 at 07:54 PM]

 

[ALawyer]

IF the money was taken using the power of attorney BEFORE grandmother died, there is a question as to whether it might have been improper self dealing and could be set aside. If taken from grandmother after the death (sort of not telling the bank that the death occurred), it would have been wholly inappropriate and the assets clearly belong to the estate, NOT her.

As a beneficiary you or others can demand an accounting and seek to replace a "faithless or untrustworthy executor". The Will itself is on public file in the courthouse.

 

[Impster]

How would I go about handling that and since the money is in her name she could have moved it to where ever she wanted to. She also emptied out the Safe Deposit Box a few days before he (Grandfather) passed away. Is there anyway to confirm what was in there? Can investments (CD's, Stocks and Mutual Funds) be cashed in by her making a request to the broker with out passing it through probate process, esentially keeping that information from the family?

Also please answer my other question about the Executors percentage. It was told to me that she feels entitled to that percentage becasue of all the time she has spent flying here over the years, to Florida from up north, to visit my Grandparents while they were sick. From what I understabd the Laywer is getting a percentage to open the estate, Investagate the estate, distribute the estate and close the estate. What does she (the execuor) have to and is it time consuming and costly. All funeral bills were prepaid by grandparents so there is no need to spend on that. The only bills are Monthly Home Maintenace Fees and Utilties on the home until it sold.

P.S. Sorry so long winded!

 

[advisor10]

JUNE 9, 2001

DEAR IMPSTER:

This aunt is NOT required to notify other beneficiaries about estate assets, but she is required to report an inventory of assets to the probate court before the estate is officially closed.

As far as the safety deposit box and its contents, you would have to ask a local attorney how to officially request that information from the bank (a court order might be needed), since most banks would normally release that information only to the executor.

If the attorney is doing the actual paperwork processing, then he is the only one able to claim the executor's fee (in Florida, 6% of the first $1,000., plus 4% of the next $4,000., plus 2.5% of the balance of the estate). She is not entitled to claim an executor's fee on the grounds of "time spent flying here over the years to visit", because these are NOT official executor duties.

Ask a local attorney how you can inform the probate court about the assets you know about which are possibly not being reported. You will probably be able to write a lettter to send to the probate court so that the dates that she transferred possession can be investigated to see if they occurred before or after the death.

SINCERELY,

[email protected]

 

[Impster]

Thanks

I appreciate the information! This is a great Website...
Great Idea to start it.